Story No. 9 of 2024: New economic development group spurs progress in Valley
EDITOR’S NOTE: This is No. 9 of the Top 10 stories of the year as voted on by newsroom staff.
Potential projects already are in the pipeline since the formation of Lake to River Economic Development.
The seventh and final network region of JobsOhio, the state’s private economic development corporation, encompasses Trumbull, Mahoning, Ashtabula and Columbiana counties, and its creation is No. 9 on the newspaper’s list of the top 10 stories of 2024.
The project was championed by local and state political leaders when it was announced in April. Gov. Mike DeWine said, “The region of Ohio is experiencing new growth and is ready for even more prosperity.”
Guy Coviello, president and chief executive of the Youngstown / Warren Regional Chamber called it a “game-changing announcement” that will allow the region to capitalize on “a generational opportunity for growth that surfaced over the last four years.”
That potential could soon become reality, according to Lake to River’s interim CEO Alexa Sweeney Blackann, a Youngstown / Warren Regional Chamber board member and president of the former Sweeney Chevrolet and Sweeney Buick GMC dealerships in Boardman.
“We’ve received probably 74 inquiries for property searches, whether it’s land or buildings,” Sweeney Blackann said. “Thirteen of those have turned into projects, and that totals about $770 million in total investment in real estate, machinery and equipment in those four counties that we’re managing right now.
“That is all work that this team has put together since the creation of Lake to River. These were not things that carried over so much. These are new developments, new work that we’re creating. And our team really believes that this could lead to 850 new jobs across these four counties if these projects are executed.”
Lake to River works confidentially with those developers, so the specific projects cannot be talked about until the businesses announce them.
The new partnership has strengthened the relationship involving the four counties.
“It’s a really great collaboration across the four counties, where we’re spending a lot of time up and down Route 11, kind of getting to know everyone in those four counties,” Sweeney Blackann said. “What was already a great working relationship has just grown intentionally over the last six, eight months.”
Representatives from all four counties are working with JobsOhio on such issues as site selection, business retention and expansion visits to help Lake to River meet the needs of existing businesses in the region and attract those looking to start or relocate.
Since Lake to River formed, it has received donations from such entities as Western Reserve Port Authority, Eastgate Regional Council of Government and Huntington Bank. Sweeney Blackann said that support is vital and sends a strong message to state leaders.
“Columbus wants to see local investment,” she said. “We know that economic investment in these four counties is critical to the future growth of our tax base, of the jobs, of the companies that want to come here. All of that is based on the support of the community investing in Lake to River for economic development work. Not only does it give us a voice in Columbus, but it gives us a voice in our community.
“It speaks volumes about the faith they (the donors) have in our team to execute, that they think that we can do the job, and that they see the value in working together with Lake to River to accomplish our shared goals.”